Legal sector warns against tax ‘raid’ proposal on client account interest ahead of Budget

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City AM

Legal sector warns against tax ‘raid’ proposal on client account interest ahead of Budget

London’s legal sector has sounded the alarm over government plans to cut interest on law firms’ client accounts to fund the justice department, warning it could drive some law firms out of business. The Ministry of Justice’s consultation on a proposal to introduce an Interest on Lawyers’ Client Accounts Scheme (ICLA) closed in March after [...]